4th Quarter 2015- Orange County- Office Market Report
Despite the sharp rise in lease rates, which are up 21% since 2012, average asking rents remain 14.5% less than at their bubble-fueled peak in 2007. Nevertheless, developers encouraged by an improving economy are underway on 1.7 million sq. ft. of space, mostly in the Irvine Spectrum, and plans have been announced for more than 1 million sq. ft. of space at the Airport.
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